XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.26.1

Goodwill and Intangibles | 6 Months Ended
--- | ---
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
Goodwill and Intangibles | Goodwill and Intangibles Goodwill Goodwill was $72.6 million and $70.6 million as of June 30, 2026 and December 31, 2025, respectively. The Company tests its goodwill and indefinite-lived intangible assets allocated to its reporting units for impairment annually on October 1, or more frequently if events or circumstances indicate that it is more likely than not that the fair value of its reporting units and indefinite-lived intangible assets are less than their carrying amount. The Company did not recognize any impairment charges on its goodwill or intangible assets during the three and six months ended June 30, 2026 and 2025. The following table summarizes the carrying amount and changes in goodwill associated with the Company’s segments:
(in thousands) | GCR |  | ODR |  | Total
Goodwill as of December 31, 2025 | $ | 15,578 |  |  | $ | 55,022 |  |  | $ | 70,600 |
Measurement period adjustments - Pioneer Power Transaction(1) | — |  |  | 2,044 |  |  | 2,044 |
Goodwill as of June 30, 2026 | $ | 15,578 |  |  | $ | 57,066 |  |  | $ | 72,644 |
(1) The Company recorded cumulative measurement period adjustments during the six months ended June 30, 2026 primarily related to refinements of acquired working capital balances, including accounts payable, accrued expenses and other current liabilities, and contract liabilities, based on additional information regarding facts and circumstances that existed as of the acquisition date. The net effect of these adjustments was recorded as a corresponding adjustment to goodwill. See Note 3 – Acquisitions for further detail. Intangible Assets Intangible assets are comprised of the following:
(in thousands) | Gross carrying amount |  | Accumulated amortization |  | Net intangible assets, excluding goodwill
June 30, 2026 |  |  |  |  |
Amortized intangible assets: |  |  |  |  |
Customer relationships | $ | 47,620 |  |  | $ | (14,384) |  |  | $ | 33,236 |
Backlog | 5,960 |  |  | (5,960) |  |  | — |
Trade name, trademarks and intellectual property | 5,550 |  |  | (2,970) |  |  | 2,580 |
Total amortized intangible assets | 59,130 |  |  | (23,314) |  |  | 35,816 |
Unamortized intangible assets: |  |  |  |  |
Trade name – Limbach(1) | 9,960 |  |  | — |  |  | 9,960 |
Total unamortized intangible assets | 9,960 |  |  | — |  |  | 9,960 |
Total amortized and unamortized assets, excluding goodwill | $ | 69,090 |  |  | $ | (23,314) |  |  | $ | 45,776 |
(1) The Company has determined that its trade name has an indefinite useful life. The Limbach trade name has been in existence since the Company’s founding in 1901 and therefore is an established brand within the industry.
(in thousands) | Gross carrying amount |  | Accumulated amortization |  | Net intangible assets, excluding goodwill
December 31, 2025 |  |  |  |  |
Amortized intangible assets: |  |  |  |  |
Customer relationships | $ | 47,620 |  |  | $ | (11,741) |  |  | $ | 35,879 |
Backlog | 5,960 |  |  | (5,800) |  |  | 160 |
Trade name, trademarks and intellectual property | 5,550 |  |  | (2,362) |  |  | 3,188 |
Total amortized intangible assets | 59,130 |  |  | (19,903) |  |  | 39,227 |
Unamortized intangible assets: |  |  |  |  |
Trade name – Limbach | 9,960 |  |  | — |  |  | 9,960 |
Total unamortized intangible assets | 9,960 |  |  | — |  |  | 9,960 |
Total amortized and unamortized assets, excluding goodwill | $ | 69,090 |  |  | $ | (19,903) |  |  | $ | 49,187 |
Total amortization expense for the Company’s definite-lived intangible assets was $1.7 million and $3.5 million for the three and six months ended June 30, 2026, respectively, and $1.8 million and $3.6 million for the three and six months ended June 30, 2025, respectively.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration